Seattle, Washington - April 3, 2001
Fulcrum Technologies, the telecom industry leader in asset tracking and materials management software solutions, today announced that Incepta Partners, a venture fund sponsored by Bechtel Enterprises that focuses on telecommunications investments, has invested $4.5 million in the company.Fulcrum Technologies' phenomenal growth and specialization in the telecommunications market attracted Incepta Partners, which concentrates on telecom infrastructure companies. Despite the recent downturn in the high-tech market, Fulcrum Technologies continues to gain momentum and prosper because of its unique specialization in helping telecommunications companies manage network assets. Fulcrum's clients include Qwest, Verizon, Alltel, BellSouth Mobility (now Cingular), XM Radio and more than 20 other telecom service providers.
Incepta Partners Invests In Telecom Asset Tracking Leader Fulcrum Technologies
Incepta Partners' investment marks a milestone for Fulcrum, which has more than doubled in size and revenue every year since 1997. This is the first time the private Seattle-based company has accepted outside funding.
"Fulcrum has a long history of profitability so accepting outside investment was not a necessity at this stage," said Fulcrum CEO Brent Bauer. "Rather, it was a calculated choice based on the strategic value that a partner such as Incepta, with its high-level industry expertise, could provide. For Fulcrum, Incepta was the perfect partner. This investment gives Fulcrum the opportunity to make the investments necessary to expand at an exponential rate."
Efficient materials management is a priority for all telecommunications companies, which led to InceptaPartners' interest in Fulcrum.
"With large-scale build-out plans that employ highly expensive equipment, telecom service providers can save millions of dollars through efficient asset tracking and management," said John Scully, a managing director of the general partner of Incepta Partners and a former vice president of US West. "Fulcrum Technologies offers telecom providers a quick way to improve their bottom line and become more competitive. Fulcrum has a smart team and great technology."
Bauer attributes Fulcrum's success to the rapid return on investment its solution offers telecom providers. The unique nature of the telecom industry—the combination of valuable assets being spread across wide geographic areas and managed by technicians who don't regularly report to a central office -- make asset tracking a necessity.
"Our CATS 2000 software helps telecom providers make the most of their investment in network equipment," Bauer said. "We help them avoid purchasing parts or spares that are already in stock but cannot be located. We eliminate wasted tax payments on ghost assets, allow for sharing of spare parts and help prevent hoarding and theft. Because of the high price tag associated with telecom infrastructure, these and other benefits generally pay for our solution in less than a year."
About Incepta Partners
Incepta Partners is a venture capital fund focusing primarily on infrastructure-based telecommunications investments in North America and Europe.
About Fulcrum Technologies
Fulcrum Technologies is a private Seattle-based company that provides asset tracking and materials management solutions to the telecommunications industry. Founded in 1981, the company provides the software, hardware, labels and services necessary to help telecom providers manage their network assets. The Fulcrum solution helps customers know at any time what they have, where it is and what it is worth. Fulcrum customers include Qwest, Verizon, Alltel, BellSouth Mobility (now Cingular), and XM Radio. CATS 2000(TM), Fulcrum's flagship product, is designed specifically for the telecommunications industry.